MPC: Long term uptrend signal
Updated
MPC has an excellent long term uptrend signal at play here. If not long you should average in over 3 days at least, risking a drop to 43.42, or 3 daily average ranges down. Targets are 89.66 and potentially up to 143.09 in the long run, to be hit by or before Q4 2019.My mentor, Tim West has been adamant about
MPC's strengt, and so far he's been right. This stock has shown relative strength, selling off less than its peers and rallying more and with lower volatility, indicating that there are some big players involved, buying in the background.Fundamentals are great for this company, and valuation is compelling, so it's a really low risk trade.
I'd reccomend holding this and
PBF for exposure in this sector.Good luck,
Ivan Labrie.
Note
Uptrend confirmed.
Note
It looks good now.Trade closed: target reached
Target was barely missed at the top, the current rally has been good too, but the trend expired, not so safe to be long anymore, or to buy on weakness...
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